Published 24-01-2019
| Article appears in February 2019 Issue

HELPING STARTUPS TAKE ON THE WORLD

22-01-2019
Karen Andrews, Minister for Industry, Science and Technology

Six companies will share $2 million in the January 2019 round of the federal government’s $23 million Incubator Support initiative, which helps Australian startups in key sectors like agricultural technology, hardware development and advanced manufacturing.

The Minister for Industry, Science and Technology, Karen Andrews, announced and congratulated the successful applicants, which are based in South Australia, Queensland, Western Australia and New South Wales.

“Incubators like these and the startups they support play a critical role across the economy in creating high-value jobs and increasing productivity by bringing new products and services to market,” she said.

“More high-performing incubators will mean more startups can realise their economic potential earlier and help Australia grow. The government is committed to working with incubators and startups to achieve the best results for the nation.”

• The University of Adelaide’s ThincLab international incubator program: A pathway for global success will assist startups with global expansion into Asia and Europe.

• Vektor Innovations’ Arc hardware incubator – hardware innovation for global startups will run five programs over two years supporting hardware startups to bring their products to market.

• AgriStart’s CONNECT: Regional Innovation Hubs will enhance agricultural technology in three high-growth regional areas of Western Australia through training and the fostering of connections to startup capital investment markets.

• The University of New England’s SRI AgTech gateway: global focus for Australian AgTech startups will bring together agricultural technology startups and agricultural producers. With the support of experts they will conduct farm trials through to adoption and will work towards the creation of new solutions for the global marketplace.

• Hunter Business Centre’s Start House: developing diversity in innovation will provide business education and mentoring to entrepreneurs across northern NSW. The project aims to enhance business success and decrease the likelihood of failure for up to 50 high growth potential businesses.

• Clinic Media’s The business incubator for startups in organic innovation will identify and incubate startups to promote growth in organic food production, processing, distribution and consumer demand.

For more information on how to apply for an Incubator Support grant, go to www.business.gov.au/assistance/incubator-support.

RELATED NEWS

  1. According to the Deloitte 2022 Manufacturing Industry Outlook, The global manufacturing industry is building back fast, undeterred by significant labour and supply chain challenges. To maintain this momentum, Deloiite suggests that manufacturers navigate elevated risks while advancing...
  2. Manufacturers play a critical role in Australia’s economic success. But an innovative, tech-driven sector doesn’t thrive in isolation. It requires support via government funding, strategic consultation and a vibrant research community to help fuel its growth. The good news? It’s all within reach. ...
  3. The Reserve Bank (RBA) Governor, Philip Lowe, delivered a speech to the Press Club in early February. 
    Make no mistake, Lowe has a tough job! Navigating the economic outlook amid heightened uncertainty from the pandemic is no easy feat. 
    The speech followed a pivotal RBA meeting on February 1. The...